Which of the Following Statements Is Incorrect

Multiple Choice

Which of the following statements is incorrect?

A) Working papers are useful aids in the accounting process.
B) On the work sheet, the effects of the accounting adjustments are shown on the account balances.
C) After the work sheet is completed, it can be used to help prepare the financial statements.
D) On the work sheet, the adjusted amounts are sorted into columns according to whether the accounts are used in preparing the unadjusted trial balance or the adjusted trial balance.
E) A worksheet is not a substitute for financial statements.